The public sector enterprise said that it has recorded highest ever loan sanctions at Rs 3,58,816 in FY24, up 33.66% from Rs 2,68,461 crore registered in FY23.
Of the loan sanctioned, Rs 1,36,516 crore were renewable energy sanctions in FY24, steeply higher than Rs 21,371 crore reported in the same period a year ago.
The company also achieved its highest ever loan disbursements at Rs 1,61,462 crore in FY24, recording a growth of 66.72% year on year.
Loan Book stood grew by 17.13% to Rs 5,09,545 crore in FY24 from Rs 4,35,012 crore posted in FY23.
REC is a government-owned infrastructure finance company in India. They fund projects in power (including new technologies) and non-power sectors (roads, metro, IT, etc.) for both government and private companies.
On a consolidated basis, net profit of REC rose 13.48% to Rs 3,308.42 crore on 23.2% rise in total income to Rs 12,071.54 crore in Q3 December 2023 over Q3 December 2022.
Shares of REC slipped 3.78% to Rs 453.85 on the BSE.
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